Technical analysis EURJPY for 08.05.2024
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 165.800. The closest resistance is the level 166.825
Key levels
- 168.300, 167.525, 166.825, 165.800, 165.000
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 166.825, with Take Profit of 165.800 and Stop Loss of 167.525
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 167.525, with Take Profit of 168.300 and Stop Loss of 166.825
Scenario
Recommendation
SELL LIMIT
Entry Point
166.825
Take Profit
165.800
Stop Loss
167.525
Key Levels
168.300, 167.525, 166.825, 165.800, 165.000
Alternative scenario
Recommendation
BUY STOP
Entry Point
167.525
Take Profit
168.300
Stop Loss
166.825
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.